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III. PUBIC HEARING <br /> III.A Public Hearing for Spec Building 3 <br /> County Attorney Whitney Parrish stated that there has been a request for the City <br /> and County to agree to lease a third spec building at Central Carolina Enterprise <br /> Park to be used to market Lee County and the City of Sanford to entice new <br /> companies to locate and create jobs here. The City and County would enter into a <br /> Memorandum of Understanding with Central Carolina Enterprise Park and the owner <br /> of the spec building investors setting out the general parameters of the lease. Once <br /> the building has been completed, the City and County would need to enter into a <br /> lease agreement with the owners of the building and would pay$ 13,541.67 on a <br /> monthly basis up to $325,000 to be split evenly between the City and County. Mrs. <br /> Parrish noted that the MOU will include a provision for sharing of profits from the sale <br /> of the building with the City and County as a return on investment for lease <br /> payments. In the cases of Spec Buildings 1 and 2, the buildings were disposed off <br /> before the leases were triggered thus the City and County were not required to <br /> expend any funds. SAGA CEO Jimmy Randolph requested that the Board vote on <br /> the proposed lease for Spec Building #3. The public hearing advertisement was <br /> published in the Sanford Herald on March 4, 2021, a copy of the Affidavit of <br /> Publication is attached and incorporated into these minutes. <br /> Chairman Kirk Smith opened the floor for public comment. No one spoke for or <br /> against the proposal for Spec Building #3. Chairman Smith closed the public <br /> hearing. <br /> Final MOU Spec Building 3 3.8.21 .docx <br /> Exhibit A.pdf <br /> Exhibit B Spec 3.pdf <br /> Motion: Motion to waive the policy to delay a vote until the next <br /> meeting following a public hearing. <br /> Mover: Robert Reives <br /> For: 6 - Arianna Lavallee, Dr. Andre Knecht, Robert Reives, Kirk Smith, Bill <br /> Carver, Mark Lovick <br /> Absent: 1 - Cameron Sharpe <br /> Motion Result: Passed <br /> Motion: Motion to approve allocation of up to $325,000 for lease payments <br /> for Spec Building # 3. <br /> Mover: Robert Reives <br /> For: 6 - Arianna Lavallee, Dr. Andre Knecht, Robert Reives, Kirk Smith, Bill <br /> Carver, Mark Lovick <br /> Absent: 1 - Cameron Sharpe <br /> Motion Result: Passed <br /> 3 <br />